GOP attorneys general call on credit card companies to drop plans for gun store code

GOP attorneys general call on credit card companies to drop plans for gun store code


Fire arms are seen at the Bobâs Little Sport Gun Shop in the town of Glassboro, New Jersey, United States on May 26, 2022. 

Tayfun Coskun | Anadolu Agency | Getty Images

Two dozen Republican attorneys general are urging Visa, MasterCard, and American Express to drop their plans to adopt a new merchant category code for gun retailers, saying the move would infringe on consumers’ privacy.

In a letter sent to the companies Tuesday, the attorneys general warn the credit card companies that they could face legal action if they move forward with the code adopted by the International Organization for Standardization.

“Categorizing the constitutionally protected right to purchase firearms unfairly singles out law-abiding merchants and consumers alike,” said the letter, led by Tennessee Attorney General Jonathan Skrmetti and Montana Attorney General Austin Knudsen.

“Be advised that we will marshal the full scope of our lawful authority to protect our citizens and consumers from unlawful attempts to undermine their constitutional rights,” says the letter, which was first reported by The Wall Street Journal.

Visa, MasterCard and American Express did not immediately respond to requests for comment.

On Saturday, Senate Republicans sent a similar letter to the three credit card companies. The letter said the companies are “bowing to international and activist pressure,” and that the codes are “the first step towards backdoor gun control on law abiding Americans.”

The letters come after the credit card companies announced plans to start applying the new sales code to transactions made at gun stores. Gun law advocates have said such a code is a critical first step toward giving banks and credit card companies the tools they need to recognize dangerous firearm purchasing trends — such as a domestic extremist building up an arsenal — and report them to law enforcement.

A merchant category code indicates the types of services or goods sold to consumers. Previously, gun store sales were categorized as “general merchandise.”

Visa, MasterCard and American Express have previously said the new codes won’t inhibit legal commerce.

“A fundamental principle for Visa is protecting all legal commerce throughout our network and around the world and upholding the privacy of cardholders who choose to use Visa,” Visa said in a statement last week. “That has always been our commitment, and it will not change with ISO’s decision.”



Source

Inside Alts: Private equity management fees hit new low in 2025
Business

Inside Alts: Private equity management fees hit new low in 2025

A view of the New York Stock Exchange (NYSE) on Wall Street November 13, 2024, in New York City.  Angela Weiss | AFP | Getty Images A version of this article appeared in CNBC’s Inside Alts newsletter, a guide to the fast-growing world of alternative investments, from private equity and private credit to hedge funds […]

Read More
Ford reports best annual U.S. vehicle sales since 2019
Business

Ford reports best annual U.S. vehicle sales since 2019

Visitors to the OC Auto Show at the Anaheim Convention Center check out the newly unveiled Ford Expedition in Anaheim on Thursday, October 3, 2024. Leonard Ortiz | Medianews Group | Getty Images DETROIT — Ford Motor on Tuesday said its U.S. vehicle sales last year increased 6% to achieve the company’s best annual sales […]

Read More
Vista Equity Partners says its ‘agentic factory’ is reinventing the way companies use AI
Business

Vista Equity Partners says its ‘agentic factory’ is reinventing the way companies use AI

A version of this article appeared in CNBC’s Inside Alts newsletter, a guide to the fast-growing world of alternative investments, from private equity and private credit to hedge funds and venture capital. Sign up to receive future editions, straight to your inbox. With fears growing of an investment bubble in artificial intelligence infrastructure, the next phase of […]

Read More